The U.S. Digital Payments Market: Growth of e-commerce and Mobile Shopping Continues Unabated

Apr 26, 2017

Digital payment transactions are on an aggressive growth trajectory in the United States. Key mega trends in the payments industry include:

  • Bricks and clicks—with increased consumer demand for online and mobile products and services, payments are going digital and both online and mobile transactions are increasing rapidly. 
  • Social trends—as more millennials enter the workforce, the demand for personalized, uninterrupted, anytime and anywhere service delivery will increase with an increased reliance on online transactions.
  • Connectivity and convergence—connectivity and convergence of technologies will alter delivery models, and new types of data about consumers will become increasingly available.
  • New business models—behavioral changes, customer demands, ecosystem changes, information technology, and advanced analytics platforms will enable new products and services, leading to new business models.
  • Economic trends—the demands of changing demographics, financial inclusion, data security, and tighter regulations will create new challenges. Blockchain, artificial Intelligence, and machine learning will disrupt industry norms.

To learn more about the key technologies, market developments, and strategic initiatives of the leading industry participants please read the Frost & Sullivan market insight US Digital Payments Market Outlook, Forecast to 2022.

 


Category : Big Data

Vikrant Gandhi

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Fourteen years of product marketing, research, and consulting expertise, which includes supporting clients’ needs through more than 140 syndicated market research deliverables and consulting assignments. Particular expertise in Assessing next-generation telecommunications trends, technologies and market dynamics; Helping clients develop and execute their go-to-market strategies; Providing continuous inputs to clients into new market developments and helping them understand the strategic implications.


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